This past April, the National Association of Colleges and Employers (NACE) released their 2011 survey on internships and co-ops. Internships are an integral and ever-important part of the college-recruiting scene. Having the experience enhances your chances of being hired post-graduation. The following is a brief overview of the survey:
Intern Hourly Wage
For juniors pursuing a bachelor’s degree:
- Technical and quantitative majors are paid the most (average $18.90/hour)
- Communication majors are paid the least (average $15.71/hour)
- The average wage for interns is $16.68/hour
Offer, Acceptance, and Conversion Rates
- The percentage of students being offered internships and co-ops has increased by three percent, from 64 percent in 2010 to 67 percent in 2011
- The acceptance rate has also increased by three percent, from 84 percent in 2010 to 87 percent in 2011
- The conversion rate — the rate at which interns became full-time hires — has increased by five percent, from 53 percent in 2010 to 58 percent in 2011
Average Retention Rates
Shows the difference between employers with internship/co-op experience and those with no experience on a one- and five-year retention rate.
One-year retention rate:
- 61 percent retention rate for those who had never been an intern
- 76 percent retention rate for those who were previously the company’s interns
Five-year retention rate:
- 44 percent retention rate for those who had never been an intern
- 55 percent retention rate for those who were previously the company’s interns
